Xi warned of “severe challenges” ahead but said China will become “more and more open”, and be a “model for whole humankind” by 2050.

But he also issued a menacing threat to build one of the biggest and most powerful armies in the world ensuring they would be built to fight.

He told delegates: “By 2050 China will become a global leader in terms of comprehensive national strength and international influence with the rule of law, innovative companies, a clean environment, an expanding middle class, adequate public transportation and reduced disparities between urban and rural areas.

“Chinese people will enjoy greater happiness and well-being, and the Chinese nation will stand taller and firmer in the world.

“China is approaching the centre of the world stage.”

He declared victory over “many difficult, long overdue problems” since he took power in 2012 and pledged to open China’s doors to foreign businesses, defend against systemic risks, deepen state-run enterprise reform, strengthen financial sector regulation and better co-ordinate fiscal and monetary policy.

Xi told delegated: “Right now both China and the world are in the midst of profound and complex changes.

“China is still in an important period of strategic opportunity for development. The prospects are very bright, but the challenges are very severe.”